What is Mina (MINA) Cryptocurrency?

By: Cryptovice | Cryptocurrency | Post Earned: 0.00005020BNB

Mina Protocol is a cryptocurrency protocol with a compressed blockchain. Mina always stays the same size, about 22 Kb, and it is based on zk-SNARKs technology, which provides proof of block with minimal weight. A Mina token is a native blockchain cryptocurrency used to transfer funds and to validate transactions using stacking.

Mina Project Ideas And Key Features

The basic concepts of Mina protocol:

  1. Formalizing the concept of a compressed blockchain. The project is interesting not only for users of this network but also for independent third-party designs.
  2. Formalizing the concept of concurrent scanning to adjust transaction confirmation times.
  3. Ouroboros Samasika’s provably secure PoS consensus protocol.
  4. Publication of all protocol performance evaluation reports.

The modern cryptocurrency project forms a new mechanism for checking and storing data in the blockchain, consistently limiting the total size of the chain. Its weight will always remain the same – 22Kb, regardless of how long it has existed or how active it is. This will ensure fast transaction validation. This model reduces the requirements for a blockchain storage device to almost zero. The main thing is to ensure a stable Internet connection.

It also means a lower barrier to entry. Users can use their smartphones as a node in the Mina protocol. This increases decentralization and therefore the security of the network.

To encourage users to join the Mina community and make it more useful, its founders offer grants in MINA coins. Over 10 million tokens have been allocated for improving the project infrastructure, developing desktop and mobile wallets, or updating documents on Minaprotocol.com.

What Makes MINA Crypto Different?

Mina is a native token used for all transactions on the network, as a form of payment and financial incentive for users confirming transactions. Each token is divided into billions of shares. The protocol is based on PoS, so network participants can be fined for holding tokens without stacking, thereby increasing inflation.

Three key roles in the Mina network:

  1. Verifiers. Verify the validity and integrity of the network by loading zk-SNARK and applying it to calculations.
  2. Block makers. Provide transaction processing. This responsibility can be delegated, as in many other PoS systems.
  3. “Snarkers”. Provide zk-SNARKs to check transactions and create new blocks. 

These three roles ensure network stability and low resource requirements. Regardless of how many transactions the network is currently processing, users can estimate the state of the blockchain using zk-SNARK.

Mina Crypto Protocol Price Prediction

Mina coin is one of the cheapest altcoins that appeared on the market only in 2021. However, it already attracted many other cryptocurrency projects, including Polygon aiming for launching privacy-preserving applications and making the DeFi economy more stable.

Moreover, project developers are going to make the Mina blockchain more accessible with Full nodes run on mobile and web. In 2022, they also plan to implement an on-chain protocol for treasury and budget, and this feature will empower decentralized voting and decision-making.

As Mina is improving its services and partnering with other projects, the Mina coin price is increasing. Experts also believe that this cryptocurrency is promising and as for DigitalCoinPrice, it will cost $9,49 at the end of 2022. CoinArbitrageBot doesn’t have such a positive Mina token price prediction, but it still believes that the price will get over $5.72 in a year.


All in all, Mina is a blockchain with minimal power consumption, which has prospects for the future. However, since the Mina protocol is relatively new and it is not yet known how the coin will behave in the future, it is not recommended to invest much in Mina crypto tokens.

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